As we see a huge gap of 169 points which is yet to be filled
Any time we might see a bearish side ! buyers be very Cautious.
Also there is a formation of triple bottom formation.
Valuation is Expensive if PE is anywhere between 20 to 25 which stands for overvaluation.
PE levels Data provided by NSE*
03-Aug-2020 23.01
04-Aug-2020 22.81
05-Aug-2020 22.83
06-Aug-2020 22.97
07-Aug-2020 23.09
10-Aug-2020 23.24
11-Aug-2020 23.59
12-Aug-2020 23.63
13-Aug-2020 23.56
14-Aug-2020 23.01
17-Aug-2020 23.03
18-Aug-2020 23.53
.....
This is my view and lets hope for the best!
Any time we might see a bearish side ! buyers be very Cautious.
Also there is a formation of triple bottom formation.
Valuation is Expensive if PE is anywhere between 20 to 25 which stands for overvaluation.
PE levels Data provided by NSE*
03-Aug-2020 23.01
04-Aug-2020 22.81
05-Aug-2020 22.83
06-Aug-2020 22.97
07-Aug-2020 23.09
10-Aug-2020 23.24
11-Aug-2020 23.59
12-Aug-2020 23.63
13-Aug-2020 23.56
14-Aug-2020 23.01
17-Aug-2020 23.03
18-Aug-2020 23.53
.....
This is my view and lets hope for the best!